RE storage prices will come down with increasing demand & manufacturing: RK Singh

New Delhi: Union Minister for Power RK Singh said that price of renewable energy (RE) storage will come down over time as demand increases and more manufacturing facilities are set up. Singh made the statement while addressing the ceremony of 6th foundation Day of AREAS (Association of Renewable Energy Agencies of States) through online platform. On the occasion, he launched AREAS website: www.areas.org.in and also telephone directory of Association.  The minister is the ex-officio patron of the association. 

While talking about the future of Renewable Energy (RE), Singh said, "RE is economically viable today. The only rider is storage. Prices of storage will come down over time. We should bring down storage prices by increasing demand and putting up more manufacturing facilities. Once that happens the transition to renewables will be faster. More and more future projects will have storage with them. I propose to have RPO for round the clock renewable energy which will encourage storage." 

Also read: ISA to hold first World Solar Technology Summit on virtual platform on Sep 8

He added that AREAS as a mission should take activities like launching a communication plan including hoardings, radio/tv spots encouraging the consumption of electricity through renewables. We will have to make people aware that this will bring down their expenses on electricity and it is good for the environment. For this, the Ministry can provide additional corpus fund to AREAS. AREAS should organise brainstorming sessions at least once in a quarter to discuss issues of the Renewable Energy sector and come out with possible innovative solutions.

AREAS has been formed on MNRE initiative to interact and learn from each other's experiences and also share their best practices and knowledge regarding technologies and schemes and programmes. The AREAS got registered under the Society Registration Act 1860 on August 27, 2014. Union Minister for New & Renewable Energy is the Patron of the Association and Secretary, MNRE is the ex-officio President of the Association. All SNAs (The State Nodal Agencies) are the member of the Association.

Considering the importance of mutual interaction and sharing of experience and knowledge between the SNAs, steps have been taken to re-invigorate the AREAS. During the last two months, four meetings and workshops have been organised through an online platform. For proper functioning of the AREAS Vice President and Executive Committee have been selected by General Body of AREAS in the meeting held on July 30.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)